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LONDON (Alliance News) - Distil PLC Tuesday said that it has made a good start to the new financial year with both sales volumes and revenue strongly ahead of the prior year.
Shares in Distil were trading up 37% at 1.03 pence Tuesday afternoon, one of the best performers in the AIM All-Share.
The drinks company said that sales volume grew 26% in the period while revenue rose 76% on the same period the year before, which it said was driven by increased distribution in the UK and US together with increased brand support, despite difficult trading conditions in Eastern Europe.
Distil added that it expects to receive final approval by the US Alcohol and Tobacco Tax and Trade Bureau for RedLeg spiced rum by the end of September, and plans to commence shipments in early 2016.
Blavod black vodka has been well received in the US and is now being shipped to all markets, Distil said, adding that it has also commenced shipments of the Diva vodka brand to both export and domestic markets in the UK and remains confident that it will be well received by high-end retailers.
Distil will release its results for the half year to September 30 in early November.
By Karolina Kaminska; karolinakaminska@alliancenews.com @KarolinaAllNews
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